Shares of Tesla Inc (TSLA.O) jumped 18 percent on Monday as signs it had met targets for quarterly production numbers added to relief at Chief Executive Elon Musk’s settling a lawsuit with regulators that could have forced him out.
Tesla shares sank last week after the U.S. Securities and Exchange Commission accused Musk of securities fraud, opening up the prospect of a long-drawn out fight that could have seen Tesla lose its leader, undermine its ability to raise capital and cripple operations.
Under the settlement, Tesla and Musk will pay $20 million each to the securities regulator and Musk will step down as chairman but remain as chief executive.
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